Elastic (ESTC) Q4 Earnings and Revenues Top Estimates

Core Insights - Elastic (ESTC) reported quarterly earnings of $0.21 per share, exceeding the Zacks Consensus Estimate of $0.19 per share, but down from $0.22 per share a year ago, representing an earnings surprise of 10.53% [1] - The company achieved revenues of $335 million for the quarter ended April 2024, surpassing the Zacks Consensus Estimate by 1.78% and increasing from $279.94 million year-over-year [2] - Elastic has consistently surpassed consensus EPS and revenue estimates over the last four quarters [2] Earnings Performance - The earnings surprise for the previous quarter was 16.13%, with actual earnings of $0.36 per share compared to an expected $0.31 [1] - The current consensus EPS estimate for the upcoming quarter is $0.26, with projected revenues of $346.85 million, and for the current fiscal year, the EPS estimate is $1.43 on revenues of $1.47 billion [6] Stock Performance and Outlook - Elastic shares have declined approximately 9.2% year-to-date, contrasting with the S&P 500's gain of 10.4% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [5] - The outlook for the stock's price movement will largely depend on management's commentary during the earnings call and future earnings expectations [3] Industry Context - The Technology Services industry, to which Elastic belongs, is currently ranked in the top 27% of over 250 Zacks industries, suggesting a favorable environment for performance [7] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [4]